Mitsubishi Electric upgraded to Buy from Hold at Jefferies

Jefferies analyst Bolor Enkhbaatar upgraded Mitsubishi Electric to Buy from Hold with a price target of 1,650 yen, up from 1,570 yen, citing incremental improvements in its portfolio and on its transformation. Proactive restructuring should support profit growth and trigger a re-rating of the shares, the analyst tells investors in a research note.